The lenders are looking to acquire pieces of the $4.52 billion of performing loans the Dublin-based bank is shedding, said the people, who asked not to be identified because the talks are private. Investor groups led by private-equity firms Blackstone Group LP (BX), working with Deutsche Bank AG (DBK), and Lone Star Funds also submitted offers for parts of the portfolio, which include $5.13 billion of subperforming and non-performing debt, the people said.

“Banks like Wells and JPMorgan can afford to pay more than a nonbank for the performing loans,” said Ben Thypin, director of market analysis for Real Capital Analytics Inc., a property- research firm in New York. “Private-equity firms like Blackstone and Lone Star can bid aggressively on the nonperforming pieces because they have a large workout infrastructure in place.”

Ben Carlos Thypin

I am currently the co-founder of Quantierra, the world's first data driven real estate brokerage and investment manager. In my former life as Director of Market Analysis at Real Capital Analytics, I worked with press outlets large and small to provide them with great data and insightful commentary. Here are some of the results of this collaboration. For the rest, please check out the News Archive.